BASSETERRE, St. Kitts, May, 09, 2019 (Press Unit in the Office of the Prime Minister) – The Team Unity-led Government of St. Kitts and Nevis has pledged to do all it can to ensure that Kittitians and Nevisians are in no way disadvantaged from the creation of a marijuana industry in the Federation.
The St. Kitts government are simply following what major countries like the US and Canada have done with their cannabis industry. The legalisation of cannabis products in those countries has been proven to be extremely beneficial to the economy with minimal downsides. In the US, it’s easier than ever to get loans for a cannabis business from lenders like HEF Finance so it’s hoped that it will be just as easy for businesses in the local area to do the same within the next 2 years.
Earlier today (Thursday, May 9), Prime Minister Dr. the Honourable Timothy Harris introduced and had read a first time the Cannabis Bill, 2019, in the National Assembly which, once successfully passed, will grant legislative approval for and regulate the use of cannabis for medicinal, religious and recreational purposes in St. Kitts and Nevis. This news means that there will be more marijuana seed banks, dispensaries, growers, and processors in order to keep up with the new demand.
Prime Minister Harris indicated that in the not too distant future, St. Kitts and Nevis, the smallest country in the hemisphere, will provide a legal framework that represents a most modern and comprehensive response to the issues relating to the cultivation and use of marijuana.
The Cannabis Bill, 2019, will also be the foundation for the establishment of a licensing structure and complete tracking system for medicinal cannabis businesses-a financial and entrepreneurial opportunity Prime Minister Harris hopes nationals of St. Kitts and Nevis will seize. These businesses may want to buy CBD products in bulk, as well as their marijuana products, to make sure they have the right stock to open up without running out during peak times.
In order to make sure that these cannabis businesses have enough money to spend on their bulk products, as well as guaranteeing their success as a business, finding a cbd friendly bank may be in their best interest. Associating with a financial institution like this can help the businesses to connect a credit card to their account, subsequently leading to using ATMs and making payments online, which could be greatly important. But first, there needs to be an opportunity for this change.
“I wish to reaffirm today, Mr. Speaker, that non-nationals would not be permitted to secure advantages over nationals of our Federation as we set about to build out a marijuana industry,” Dr. Harris stressed.
The prime minister noted that his Government was reliably informed that “certain international business predators and pirates, aided by unsavoury local elements,” are positioning themselves to venture into plant cultivation, to the detriment of locals.
“We are told that some persons are assuring the foreign interests of preferential treatment to international plunderers, in return for underhanded funding for their ambitious pursuits. Misguided local operatives are promising land giveaways of up to 300 acres to their friends and associates,” Dr. Harris affirmed.
Prime Minister Harris made it abundantly clear that the Government has not granted any license to anyone to import plants or seeds into the Federation and that his administration has not had any conversation with any foreigner about setting up businesses to trade in cannabis.
“I also advise our citizens to be watchful and wary of any of persons who are seeking to consort with international operatives to rob us of our patrimony,” Prime Minister Harris said, while noting that his Team Unity Government will be vigilant on this issue and would utilise relevant statutes to secure the welfare of nationals.